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New York State Common to add $3 billion to sustainable investment program

New York state Comptroller Thomas P. Dinapoli

New York State Comptroller Thomas P. DiNapoli said Friday that the New York State Common Retirement Fund, Albany, would commit another $3 billion to its sustainable investment program, bringing the total to $10 billion.

"I'm determined to keep New York state's pension plan well-funded and invested in the emerging low-carbon global economy," said Mr. DiNapoli, the sole trustee of the $209.2 billion pension fund, in a news release.

The $3 billion will be allocated as investments are identified, said Matthew Sweeney, a spokesman for Mr. DiNapoli, in an email. "The funding source will be identified depending on the timing of each opportunity."

The pension fund's sustainable investment program includes more than $4 billion in its low-emissions index, which launched in January 2016. "The index eliminates or reduces the fund's public equity investments in companies with high emissions of greenhouse gases and increases investments in lower-emitting corporations," the news release said.

The pension fund also has put about $3 billion in an assortment of sustainable investments "that address a variety of themes, including clean energy and green infrastructure," the release said. The additional $3 billion complements this effort, Mr. Sweeney wrote.